Bitcoin #BTCUSD - impulsive gains towards $12k ahead?
The attempt to insert an impulsive scenario ended with a hyper bullish growth count.
Sequence of 1-2, (1) - (2), (i) - (ii) is a typical, impulsive, strongly upward wave progression, which assumes very rapid increases in wave 3. If this count is correct, then the price should grow very fast in the direction of $ 12,000, and even higher, without making deep corrections.
On the other hand, the alternative count assumes a complex wave correction labeled as wave (B) in the form of the Triple Three WXYXXZ, the top of which should fall in the area of just $ 10,800 - $ 11,200. From there, the price should start to fall sharply, breaking levels of $ 10.297, $ 10,000 and $ 9.707, respectively.
Sequence of 1-2, (1) - (2), (i) - (ii) is a typical, impulsive, strongly upward wave progression, which assumes very rapid increases in wave 3. If this count is correct, then the price should grow very fast in the direction of $ 12,000, and even higher, without making deep corrections.
On the other hand, the alternative count assumes a complex wave correction labeled as wave (B) in the form of the Triple Three WXYXXZ, the top of which should fall in the area of just $ 10,800 - $ 11,200. From there, the price should start to fall sharply, breaking levels of $ 10.297, $ 10,000 and $ 9.707, respectively.
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Corrective wave 4 ahead of us?
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#Bitcoin #BTCUSD
As expected, the price of the BTCUSD cryptocurrency -6.55% started a downward correction in wave 4. Its range may reach PLN 9.707 or $ 9.432. This correction may also evolve in the coil of a more complex and time-consuming correction, for example: formation of a triangle and WXY.
After the wave 4 correction is completed, wave 5 remains to be done, which means that we should expect increases above the level of $ 11,650.
As expected, the price of the BTCUSD cryptocurrency -6.55% started a downward correction in wave 4. Its range may reach PLN 9.707 or $ 9.432. This correction may also evolve in the coil of a more complex and time-consuming correction, for example: formation of a triangle and WXY.
After the wave 4 correction is completed, wave 5 remains to be done, which means that we should expect increases above the level of $ 11,650.
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Double Zig-Zag in progress?
The price has hit the target level exactly where I anticipated, at $11,280 ZONE. Now the bears are pushing the price lower towards $10k.